WASHINGTON, DC, October 16, 2023 - The World Bank (International Bank for Reconstruction and Development or "IBRD", rated Aaa/AAA) today announced a new investment solution designed for retail investors in Italy, a EUR-denominated 5-year fixed rate callable Sustainable Development Bond. BNP Paribas is acting as the dealer for the bonds.
Proceeds of the bond will be used to support the financing of eligible sustainable development activities designed to achieve positive social and environmental impacts in developing countries in line with the World Bank's mission to reduce poverty and boost shared prosperity on a livable planet.
The bonds will be offered to investors from October 16, 2023, until November 10, 2023, subject to any early termination or extension of the offer period or cancellation of the issuance of the bonds. Application will be made for listing and to trading on the Euronext Milan regulated market, EuroMOT segment, managed by Borsa Italiana S.p.A. The minimum investment threshold is EUR 1,000.
The EUR-denominated Sustainable Development Bond pays a minimum annual gross fixed rate quarterly coupon of 3.00% per annum. At the end of the offer period, which is currently set to be November 10, 2023, the final coupon rate will be announced, which may be confirmed or revised, albeit only upwards, depending on market conditions during the offer period.
